FDA announces approval of Exact Sciences colorectal screening test The FDA said it approved Cologuard, the first stool-based colorectal screening test that detects the presence of red blood cells and DNA mutations that may indicate the presence of certain kinds of abnormal growths that may be cancers such as colon cancer or precursors to cancer. The FDA added that the Centers for Medicare & Medicaid Services proposes to cover the Cologuard test once every three years for Medicare beneficiaries who meet certain criteria. Cologuard is manufactured by Exact Sciences. Reference Link
Exact Sciences price target lowered to $26 from $32 at Canaccord Canaccord lowered its price target on Exact Sciences to $26 from $32 to reflect dilution of the large secondary offering. The firm maintains its Buy rating on Exact Sciences shares, citing its sales force expansion, payer traction and a high probability of a positive outcome from the USPSTF decision.